Agenda

The Minutes of Audit Committee held on the 25^th March 2024 and 24^th June 2024 were submitted for approval as a correct record.

Recommended – That the minutes be received and approved as a correct record.

To inform Audit Committee of the Audit Reports issued during the period June 2024 – August 2024 and bring to the Committees attention what the key issues were.

Recommended – That the report be noted for informational purposes.

To inform members of the outcome of routine follow-ups following the previously agreed action plans for completed audit reports. The follow-ups detailed within this report are those carried out during the period June 2024 to August 2024.

Recommended – That the report be noted for informational purposes.

At its meeting on 24^th June 2024, members of Audit Committee agreed with the recommendation of the appointment of 2 independent persons to the Audit Committee subject to the decision being taken by Full Council. However, Audit Committee deferred the second recommendation relating to the methodology to the next meeting of Audit Committee.

Audit Committee is therefore asked to determine the methodology and process that would be used surrounding the process that would be used prior to the decision being taken by Full Council.

Recommended - Agree the methodology that will be used for the appointment of 2 independent persons to Audit Committee as detailed in section 3 of the report together with the appendices to this report. The agreed methodology will be shared with Full Council to support their decision.

The report is to provide the Committee with an update on the unaudited Statement of Accounts for 2023/24.

Appendix A - Unaudited Statement of Accounts 2023/24

Recommended –That the report be noted to inform of the Council’s unaudited Statement of Accounts for 2023/24 in Appendix A.

The report is to update the Committee on the external audit progress, the national position regarding the backlog of external audit work, the backstop solution proposed by Central Government and the implications of this for Hyndburn Borough Council.

Appendix A - Financial Health Statement of Accounts 2023/24

Recommendations- That the report be noted for informational purposes regarding the following.

·         The updates provided on the 2021/22, 2022/23 and 2023/24 Statement of Accounts external audits;

·         The update on the national external audit position;

·         The backstop proposals made by Central Government; and

·         The implications of the proposals on the Council.

A verbal update will be given by Daniel Watson regarding the External Audit Update. This will cover the expected arrangements for concluding the outstanding 2021/2022 – 2023/2024 audits.

Recommended- To note the updates provided for concluding the outstanding 2021/2022 – 2023/2024 audits.